StanChart to pay $327m to resolve US sanctions case
Posted by on Tue, Dec 11 2012 05:42 am
British bank Standard Chartered Plc will pay $327 million to resolve allegations that it violated US sanctions and other laws, the Federal Reserve said on Monday.
The bank will pay $100 million to resolve Fed allegations that it provided "inadequate and incomplete responses" to bank examiners and provided insufficient oversight of its sanctions compliance program, the Fed said.
The bank separately entered into deferred prosecution agreements with the US Justice Department and the New York District Attorney, and will forfeit $227 million in connection with those agreements, the Fed said.
News: The Daily Star/Bangladesh/11th-Dec-12
Other Posts
- UCBL organises managers’ confce
- Southeast Bank opens new branch at Dakhinkhan
- Fears of bear run depress stocks
- DBBL opens branch at Wari in city
- NBL foundation training held
- Standard Bank opens ATM booth at Malibagh
- Exim Bank gets int’l award
- Women-led SMEs promise faster economic growth Melanne S Verveer says at South Asia Women's Entrepreneurship Symposium
- Islamic banks to expand: study
- Trust Bank holds training on green banking
- BB to form CGS to support small entrepreneurs
- Pubali Bank Chairman gets Khan Bahadur Gold Medal
- Investment summit in Singapore showcases Bangladesh's strength
- High remittance, low imports widen BoP surplus
- SE Asian governments gamble on making cheap labour less cheap
- BB strengthens banking supervision to check fraud
- Extreme poverty to go by 2015: ADB study
- ADB awards three best performing project teams
- Road Blockade Hampers BusinessBanks see low turnout
- Lagarde warns against US fudge on fiscal cliff
Comments